Lucid announces Cybercab competitor and self-driving tech subscription in a bid to take on Tesla

At Lucid’s Investor Day Thursday, the company announced plans that seem a lot like that of its bigger electric vehicle competitor, Tesla. That includes a monthly subscription for its self-driving tech, akin to Tesla’s supervised Full Self-Driving, as well as a purpose-built robotaxi that features two seats and no steering wheel — similar to Tesla’s forthcoming Cybercab.

This is all part of CEO Marc Winterhoff’s goal of “accelerating to profitability,” with the company hoping to become free cash flow positive later this decade.

Lucid said its subscription will cost between $69 and $199 per month, depending on the level of autonomous capability. The robotaxi vehicle, meanwhile, remains in the concept phase. Tesla’s subscription costs $99 a month and Musk has said the Cybercab would come in at under $30,000.

The moves so far don’t seem to be inspiring confidence in Lucid, which is down more than 7% today.

A Tesla engineer previously noted that most miles are driven with one or two passengers — a key reason the Cybercab was designed as a two-seater.

Tesla has been rolling out steering-wheel-having Cybercabs for testing, but has said it plans to go into production with the original steering-wheel-less ones in April. Tesla has not yet applied to the National Highway Traffic Safety Administration for an exemption in order to sell vehicles without steering wheels or gas pedals, so it’s likely if these vehicles do appear that they will only be part of the company’s Austin Robotaxi fleet. Recently, just one of the vehicles in service has been seen operating without a person in the front seat.

EV sales generally have continued to struggle following the end of the $7,500 federal tax credit. However, pure-play EV makers like Tesla and Rivian have lately seen their market share grow in the US, thanks in part to major manufacturers leaving the field.